Why big data has some big problems when it comes to public policy

It’s easier to gather and easier to analyze than ever before but data scientists and researchers often have a difficult time overcoming the much more powerful forces fighting against them.

Source: gigaom.com

It’s easier to gather and easier to analyze than ever before but data scientists and researchers often have a difficult time overcoming the much more powerful forces fighting against them

See on Scoop.itWhat is Data Science

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Looking to the Future of Data Science

The future of data science lies beyond the big-data focus on predictions and recommendations, according to Oren Etzioni, a leading computer scientist.

Source: bits.blogs.nytimes.com

And the correlation and prediction of data science has certainly been good to Mr. Etzioni, whose talents include being a successful entrepreneur. He was a founder of Farecast, whose software predicted the best time to buy airline tickets. Microsoft bought Farecast in 2008. He was also a founder of Decide, a web site that sifted through historical price data and user recommendations to help consumers make buying decisions. Ebay purchased Decide in 2013.

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The Business Problem with Big Data Analytics – Lens360

What is Happening?           Recent software analyst and IT media reports, including insights from a recent SAP Americas User Group (ASUG) survey, suggest that SAP’s HANA Big Data service / platform is not yet seen by a majority of ASUG members as benefiting their business (relative to the implementation cost of implementing), or driving enough revenue …

Source: blog.saugatucktechnology.com

The big data innovation came from organizations that build products that required big data skills to create the value inherent in the product. And these skills where expensive, but since there was a direct relationship between investment and revenue growth, it was easy to justify the investment. Most enterprise IT, however, is managed as a cost center. That creates two problems: 1- investments for long term value creation can only be introduced top-down, and 2- it shifts the enterprise IT team’s focus from value creation to cost reduction.

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SAP Users Skeptical Big Data is Worth the Costs, Survey Shows

A survey shows that three-fourths of SAP customers haven’t purchased SAP HANA products because they can’t identify a business case to justify costs.

Source: www.itbusinessedge.com

Guptill cites several examples that are quite troubling. For instance, he noes that HR divisions have the most regulated data, but Saugatuck’s experiences shows many companies can’t easily find or manage that data. He also cites SuperValu, which revealed after a security breach that it didn’t even know what customer data it possessed.

 

That’s why Guptill believes the “killer use case” for Big Data analytics will only come after companies have improved their integration with cloud-based business management software and services. SAP and other vendors know this, he writes, but for now they face an uphill battle in winning over adopters:

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Statistics.com – Terminology in Data Analytics

Source: www.statistics.com

What will replace "Big Data" as a hot buzzword ?

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A Very Short History Of Data Science

The story of how data scientists became sexy is mostly the story of the coupling of the mature discipline of statistics with a very young one–computer science.  The term “Data Science” has emerged only recently to specifically designate a new profession that is expected to make sense of the vast […]

Source: www.forbes.com

1962 John W. Tukey writes in “The Future of Data Analysis”: “For a long time I thought I was a statistician, interested in inferences from the particular to the general. But as I have watched mathematical statistics evolve, I have had cause to wonder and doubt… I have come to feel that my central interest is in data analysis… Data analysis, and the parts of statistics which adhere to it, must…take on the characteristics of science rather than those of mathematics… data analysis is intrinsically an empirical science…

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Google’s Eric Schmidt tells Stanford gathering that the key to cybersecurity is better encryption

Congressional staffers from both sides of the aisle came to Stanford last week for a cybersecurity boot camp. They heard from Google’s Eric Schmidt that security problems are serious, but can be reduced with better encryption of communications.

Source: news.stanford.edu

Schmidt, in response to a question from Rice about classes students should take, noted that 75 percent of Stanford students take at least one computer science course.  He talked about the importance of data science – a topic Google scientists know well.  He pointed out that President Obama’s campaign organization made good use of data science.

Voice recognition, text recognition and face recognition by cameras and computers have become very good, but pose a privacy threat, Schmidt said. Placing cameras everywhere would drastically reduce crime, he said, but at the cost of privacy.

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Data cannot work in isolation of analytics | IT News Africa- Africa’s Technology News Leader

Frank Rizzo, data and analytics leader for KPMG South Africa. (Image Credit: Darryl Linington) The proliferation of connected devices has resulted in the

Source: www.itnewsafrica.com

Rizzo believes that the practical elements around the decision-making process often revolve around whether the decision-maker has the right data to make the right decisions. But what often happens is that they are focusing on the amount of data and not whether the information they have is enough to infer decisions on.

“The three Vs of data examine its volume, variety, and velocity. At KPMG, we also talk about two additional Vs; the veracity (or integrity) of data, and the value that it provides the business. All these elements need to be used in conjunction to help decision-makers respond to a specific business problem they need to solve.”

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Science’s Big Data Problem | Innovation Insights | WIRED

Modern science seems to have data coming out of its ears. From genome sequencing machines capable of reading a human’s chromosomal DNA (about 1.5 gigabytes of data) in half an hour to particle accelerators like the Large Hadron Collider at CERN (which generates close to 100 terabytes of data a day), researchers are awash with…

Source: www.wired.com

Modern science seems to have data coming out of its ears. From genome sequencing machines capable of reading a human’s chromosomal DNA (about 1.5 gigabytes of data) in half an hour to particle accelerators like the Large Hadron Collider at CERN (which generates close to 100 terabytes of data a day), researchers are awash with information. Yet in this age of big data, science has a big problem: it is not doing nearly enough to encourage and enable the sharing, analysis and interpretation of the vast swatches of data that researchers are collecting.

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3 Ways Startups Can Use Big Data to Reduce Waste

One of the biggest challenges small businesses face is limited capital. Because of that, they face the hurdle of eliminating waste and finding ways to expe

Source: tech.co

Big data is at its best when tracking customers and potential customers. Generally, this is a very difficult area for small businesses. Either they don’t invest as much as they would like to, or they invest more than they should, but they hope to reap the rewards. Unfortunately, both ways lead to too much waste. If companies don’t invest enough, they miss a big opportunity to bring in new consumers and new revenue. If they invest a lot but don’t do it effectively, then they’re significantly limiting future growth. Big data helps companies gauge how much they should be investing in marketing and where that marketing money should be spent. Companies can be much more precise in who they target and what type of advertising they use. It’s extremely effective at monitoring social media, too, which is a great, cheap way to market.

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